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View Diary: Obama on progressives, deficits, jobs and entitlements (373 comments)

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  •  that is not Romer's story (0+ / 0-)

    but keep spewing it.

      •  sucker (0+ / 0-)

        as usual, the progressive left accepts every direction from the msm without qualm. But with google, even a progressive can look up Romer's actual speeches.

        The American Recovery and Reinvestment Act of 2009 was the Obama administration’s
        signature rescue measure.  Providing $787 billion of tax cuts and spending increases, it is the
        boldest countercyclical fiscal expansion in American history.  To put its size in perspective, the
        ARRA provides fiscal stimulus of roughly 2 percent of GDP in 2009 and 2½ of GDP in 2010.

        During the New Deal, the largest swing in the budget deficit was a rise of 1½ percent of GDP in
        1936, which was followed by a counteracting swing in the opposite direction in the very next
        year that was even larger.


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